SEC okays capital hike of Lyceum to P1 billion

MANILA, Philippines - The Securities and Exchange Commission (SEC) has approved the increase in capital base of Lyceum of the Philippines from P200 million to P1 billion.

Documents filed with the SEC show that out of the P800 million capital hike, P300 million has been subscribed and paid for.

Lyceum is an institute of higher education located in Intramuros, Manila. It occupies what used to be a hospital during the Spanish colonial period.  It opened its gates to its first students on July 7, 1952.

Lyceum recently signed an agreement with Thailand’s Dusit Thani College to offer the latter’s popular curriculum in hospitality management at the four Lyceum campuses in Manila, Batangas, Laguna, and Cavite.

Under the agreement, Dusit Thani College will provide curricula and academic resource materials for Bachelor of Science in International Hospitality Administration with specializations in Hotel and Restaurant Management, culinary arts and restaurant management, tourism management, as well as various intensive professional courses in hotel management including Dusit Thani College’s famous Professional Chef and culinary arts program.

The partnership marks a first in the Philippines and boosts the credentials of Lyceum which already has the largest student enrollment of more than 10,000 students in hotel and restaurant management and tourism.

Lyceum Cavite opened in 2007 and is expected to attract an estimated 800 students for the incoming school year. It is undergoing expansion with new courses to be offered, which possibly could include courses in photography and health and wellness, including training in spa services.

The group’s expansion also include the construction of a new building and training center at the Intramuros campus, complete with fully-equipped classrooms, training rooms, demonstration kitchens and student practical kitchens. The new center is slated to open in 2010.

A 54-room full-service hotel called the Bayleaf will also be put up to cater to the on-the-job training of students. – Zinnia dela Peña